Municipal Bond Market Summary – Week Ending 5/24/24
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Municipal Bond Market Summary: Week Ending 5/24/24
Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.
Top 10 Performers
Showcases the top 10 Muni Bond performers based on price movements between 5/17/24-5/24/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PHILADELPHIA-B-REF | 2.926% | 07/01/45 | 5.43% | 77.22 | 73.25 | 5 |
| 2 | AMERICAN MUN PWR OH | 8.084% | 02/15/50 | 4.74% | 136.58 | 130.40 | 9 |
| 3 | GREAT LAKES MI WTR AU | 3.473% | 07/01/41 | 4.02% | 85.86 | 82.54 | 3 |
| 4 | MUNICIPAL ELEC AUTH | 6.655% | 04/01/57 | 3.62% | 114.92 | 110.91 | 9 |
| 5 | CVI-HTA 98 SUB CLAIM | 0.000% | 11/01/51 | 3.44% | 30.01 | 29.01 | 5 |
| 6 | HOWARD CO HSG-GATEWAY | 4.000% | 06/01/46 | 3.40% | 95.37 | 92.24 | 3 |
| 7 | WISCONSIN ST HLTH | 4.000% | 12/15/49 | 2.75% | 94.63 | 92.10 | 4 |
| 8 | PR SALES TAX FING-A1 | 0.000% | 07/01/46 | 2.38% | 33.08 | 32.31 | 9 |
| 9 | DIST OF COLUMBIA WTR | 3.207% | 10/01/48 | 2.21% | 74.94 | 73.32 | 6 |
| 10 | OK CO FIN AUTH -REV | 6.250% | 06/15/54 | 2.21% | 100.45 | 98.28 | 2 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 5/17/24-5/24/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | MO CPGMED 3.38 06/01/2035 | 3.375% | 06/01/35 | -5.21% | 91.15 | 96.16 | 2 |
| 2 | NY TARSCD 3.25 08/01/2035 | 3.250% | 08/01/35 | -5.11% | 90.58 | 95.46 | 2 |
| 3 | PA PASHGR 3.00 06/15/2036 | 3.000% | 06/15/36 | -4.80% | 88.65 | 93.12 | 2 |
| 4 | KY OHCEDU 3.55 02/01/2037 | 3.550% | 02/01/37 | -4.72% | 93.36 | 97.99 | 3 |
| 5 | CA EDRSCD 3.02 08/01/2042 | 3.016% | 08/01/42 | -4.60% | 72.52 | 76.01 | 8 |
| 6 | OR KLFMED 3.00 09/01/2035 | 3.000% | 09/01/35 | -4.58% | 89.31 | 93.59 | 2 |
| 7 | IL COU 3.00 01/01/2034 | 3.000% | 01/01/34 | -4.57% | 90.19 | 94.51 | 2 |
| 8 | SC SCSUTL 3.75 12/01/2040 | 3.750% | 12/01/40 | -4.44% | 88.97 | 93.10 | 2 |
| 9 | NC EASHGR 3.00 10/01/2034 | 3.000% | 10/01/34 | -4.39% | 89.19 | 93.28 | 2 |
| 10 | OH OHSPOL 3.00 12/01/2033 | 3.000% | 12/01/33 | -4.38% | 92.82 | 97.07 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 5/17/24-5/24/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | AK | 12 bps | 3.66% | 3.53% |
| 2 | MD | 13 bps | 3.70% | 3.57% |
| 3 | LA | 14 bps | 3.93% | 3.79% |
| 4 | FL | 16 bps | 4.25% | 4.09% |
| 5 | MO | 16 bps | 3.97% | 3.80% |
| 6 | WI | 17 bps | 4.08% | 3.91% |
| 7 | WV | 19 bps | 3.45% | 3.26% |
| 8 | WA | 19 bps | 3.95% | 3.76% |
| 9 | SC | 19 bps | 3.66% | 3.46% |
| 10 | AL | 21 bps | 3.97% | 3.76% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 5/17/24-5/24/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | CT | 48 bps | 4.16% | 3.68% |
| 2 | KS | 46 bps | 4.18% | 3.72% |
| 3 | NC | 43 bps | 3.80% | 3.37% |
| 4 | MS | 43 bps | 4.10% | 3.68% |
| 5 | NH | 41 bps | 4.10% | 3.69% |
| 6 | UT | 41 bps | 4.00% | 3.59% |
| 7 | RI | 40 bps | 4.04% | 3.65% |
| 8 | IA | 39 bps | 4.30% | 3.91% |
| 9 | TN | 39 bps | 3.75% | 3.36% |
| 10 | NV | 37 bps | 3.91% | 3.54% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 5/17/24-5/24/24 (General Obligation and Revenue Bonds) Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – GO Only
Displays the average Muni 10 year yield by state between 5/17/24-5/24/24 (General Obligation Bonds only) Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – Rev Only
Displays the average Muni 10 year yield by state between 5/17/24-5/24/24 (Revenue Bonds only) Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
Sentiment
Reveals the percent of Muni bonds increasing in price (advancers) vs. decreasing in price (decliners) between 5/17/24-5/24/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 5/17/24 vs. the week ending 5/24/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ECTOR CO ISD-A | 5.000% | 08/15/34 | 12 | 76 | 64 | 533% |
| 2 | IMPERIAL IRR DT-C-REF | 5.000% | 11/01/28 | 1 | 60 | 59 | 5900% |
| 3 | NTHRN CA TRANS-A-REF | 5.000% | 05/01/27 | 6 | 65 | 59 | 983% |
| 4 | PITTSBURG REF AGY-A | 5.000% | 09/01/28 | 1 | 60 | 59 | 5900% |
| 5 | LANCASTER REDEV AGY-A | 5.000% | 08/01/27 | 1 | 60 | 59 | 5900% |
| 6 | STOCKTON REDEV-A-REF | 5.000% | 09/01/28 | 1 | 60 | 59 | 5900% |
| 7 | ARCADIA USD-REF | 4.000% | 08/01/28 | 1 | 60 | 59 | 5900% |
| 8 | SAN LUIS OBISPO CNTY CALIF | 0.000% | 09/01/29 | 18 | 75 | 57 | 317% |
| 9 | FORT LAUDERDALE-B | 5.000% | 09/01/28 | 9 | 65 | 56 | 622% |
| 10 | STOCKTON USD-B-REF | 5.000% | 08/01/27 | 5 | 61 | 56 | 1120% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 5/17/24 – 5/24/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CALIFORNIA ST-REF | 5.000% | 09/01/35 | 40 |
| 2 | CALIFORNIA ST-REF | 5.000% | 09/01/43 | 39 |
| 3 | LA PAZ IDA-REF-TXBL | 6.900% | 12/01/34 | 38 |
| 4 | NEW JERSEY EDUCTNL-B | 4.000% | 03/01/53 | 37 |
| 5 | CALIFORNIA CMNTY CHOI | 4.000% | 02/01/52 | 36 |
| 6 | LOS ANGELES UNIF SD-A | 5.000% | 07/01/32 | 36 |
| 7 | LOS ANGELES UNIF SD-A | 5.000% | 07/01/34 | 36 |
| 8 | HOUSTON HGR EDU FIN C | 5.000% | 05/15/34 | 35 |
| 9 | NY ENVRNMNTL FACS-A | 5.250% | 06/15/53 | 35 |
| 10 | TRIBOROUGH BRIDGE-B-1 | 4.125% | 05/15/54 | 34 |
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